Fed Bostic comments🗽US economy and labor market losing momentum?

Raphael Bostic, from the American Federal Reserve, commented today US economy and labor market. Overall, commentary is quite mixed - not extremely dovish, but also not hawkish. Here are the highlights:

• I am not quite prepared to declare victory over inflation, as risks remain.
• The Fed must stay vigilant to ensure inflation risks continue to wane.
• I am now giving equal attention to maximum employment objective as inflation.
• The labor market continues to weaken, but is not weak.
• Business contacts point to a loosening but still broadly stable labor market.
• We must not maintain a restrictive policy stance for too long.
• A soft landing for the economy may be within reach.
• The most recent inflation reports bolster my confidence inflation is likely on a sustainable path back to 2%.
• There is no panic among my business contacts but describe an economy and labor market losing momentum.
• Price pressures are diminishing quickly and broadly

Since last rollover, futures on US Dollar index (USDIDX) dropped from 105 o almost 101 level. Overall, Bostic signals a 25 bps rate cut as more probable.

Source: xStation5